Quarterly ResultMay 11, 2026, 09:32 AM
International Money Express Q1 Net Income Plunges 93% to $0.51M
AI Summary
International Money Express reported a significant decline in its first-quarter 2026 financial results, with net income plunging 93.4% to $0.51 million and total revenues decreasing 15.5% to $121.95 million. The company also saw a substantial negative swing in cash flow from operating activities. Concurrently, the company provided an update on its pending merger with The Western Union Company, noting that most regulatory approvals have been secured, with an expected closing in the second quarter of 2026.
Key Highlights
- Net income for Q1 2026 plunged 93.4% to $0.51 million from $7.77 million in Q1 2025.
- Basic earnings per share decreased 92% to $0.02 in Q1 2026 from $0.25 in Q1 2025.
- Total revenues declined 15.5% to $121.95 million in Q1 2026 from $144.31 million in Q1 2025.
- Operating income fell 73.9% to $3.67 million in Q1 2026 compared to $14.08 million in Q1 2025.
- Net cash used in operating activities was $37.36 million in Q1 2026, a significant shift from $41.28 million provided in Q1 2025.
- The pending merger with The Western Union Company has received approvals from 51 U.S. states/territories and all international regulators, with one U.S. state pending.
- The company expects to consummate the merger in the second quarter of 2026.
- Debt, net, increased to $240.81 million as of March 31, 2026, from $194.83 million as of December 31, 2025.